Cohen & Steers Inc., a New York-based equity portfolio manager that specializes in the stocks of real estate investment trusts and utilities, has priced an initial public offering of 7.5 million shares of common stock at $13 per share.The company said it would use the net proceeds of the offering to expand its investment capabilities, launch new products, and expand distribution, as well as for general corporate purposes. Merrill Lynch & Co. is the book-running manager of the offering. The underwriters have been granted an option to buy up to 1.125 million additional shares to cover any overallotments. Cohen & Steers can be found on the Web at http://www.cohenandsteers.com.
Processing Content
